{"id":187555,"date":"2023-11-05T02:17:52","date_gmt":"2023-11-04T20:47:52","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=187555"},"modified":"2023-11-05T02:17:52","modified_gmt":"2023-11-04T20:47:52","slug":"analyst-says-bitcoin-structure-bullish-predicts-parabolic-rally-for-impulsive-btc-here-are-his-targets-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/analyst-says-bitcoin-structure-bullish-predicts-parabolic-rally-for-impulsive-btc-here-are-his-targets-crypto-news\/","title":{"rendered":"Analyst Says Bitcoin Structure Bullish, Predicts Parabolic Rally for \u2018Impulsive\u2019 BTC \u2013 Here Are His Targets &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>A widely followed crypto analyst is predicting a parabolic rally for Bitcoin (<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/dailyhodl.com\/currencies\/bitcoin\/\">BTC<\/a>) as its structure is displaying bullish signs.<\/p>\n<p>In a new strategy session, pseudonymous crypto trader Bluntz <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=JWn_qMMdrH8&amp;t=106s\">says<\/a> that the slight pullback the king crypto experienced overnight is likely going to serve as its low as its price continues to surge.<\/p>\n<p><em>\u201cI would not be surprised to think that maybe [the dip] was the low on Bitcoin, and it was a shallow one [so] we potentially [can] move higher.\u201d<\/em><\/p>\n<figure id=\"attachment_265016\" aria-describedby=\"caption-attachment-265016\" style=\"width: 812px\" class=\"wp-caption aligncenter\"><figcaption id=\"caption-attachment-265016\" class=\"wp-caption-text\">Source: Bluntz\/YouTube<\/figcaption><\/figure>\n<p>The crypto strategist goes on to say that the top crypto asset by market cap\u2019s structure indicates its next move will be a huge leg up.<\/p>\n<p><em>\u201cIf you were to be looking to long Bitcoin, I think you\u2019d probably want to have a decent stop, maybe down here at like $33,500, but I think this next leg up \u2013 I think Bitcoin is still very, very, very much impulsive.\u201d<\/em><\/p>\n<p>Interpreting the chart using the Elliott Wave Theory, a five-wave form of financial analysis that forecasts market trends by examining extremes in investor psychology and price, Bluntz predicts a parabolic rise for BTC that could see it land somewhere in the $50,000 area.<\/p>\n<p><em>\u201cI think all in all, the structure for Bitcoin is still very, very much bullish and this can potentially extend even much higher again\u2026<\/em><\/p>\n<p><em>[It] will probably end up in the [$50,000s]\u2026 There\u2019s potential that one of these waves is probably going to extend far higher than we can imagine because that seems to happen [to] Bitcoin as well, at some point it just goes parabolic and I think that will probably happen in this leg we\u2019re probably in right now. <\/em><\/p>\n<p><em>I\u2019m still very much bullish on Bitcoin. I think this overnight dip is probably a gift. I don\u2019t think there are any signs of tops in my opinion. I think it\u2019s probably bottomed here.\u201d <\/em><\/p>\n<p>Bitcoin is trading for $34,487 at time of writing, a fractional decrease during the last 24 hours.<\/p>\n<p><iframe loading=\"lazy\" title=\"BTC, ETH, and ETH\/BTC video update and outlook going into end of year\" width=\"740\" height=\"555\" src=\"https:\/\/www.youtube.com\/embed\/JWn_qMMdrH8?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe><\/p>\n<p><span style=\"color: #ffffff\">I<\/span><\/p>\n<p><em><span style=\"font-size: 13pt\">Don&#8217;t Miss a Beat \u2013 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/dailyhodl.com\/join-the-daily-hodl-email-list\/\">Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em><br \/>\n<br \/>\n<em><span style=\"font-size: 13pt\">Check <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/dailyhodl.com\/crypto-markets\/\">Price Action<\/a><\/span><\/em><br \/>\n<br \/>\n<em><span style=\"font-size: 13pt\">Follow us on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TheDailyHodl\">Twitter<\/a>, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.facebook.com\/thedailyhodl\/\">Facebook<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.me\/thedailyhodl\">Telegram<\/a><\/span><\/em><br \/>\n<br \/>\n<em><span style=\"font-size: 13pt\">Surf <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/dailyhodl.com\/daily-hodl-mix\">The Daily Hodl Mix<\/a><\/span><\/em><br \/>\n<\/p>\n<div class=\"hideinamp\">\n<p><a rel=\"nofollow noopener\" target=\"_blank\" class=\"maxbutton-4 maxbutton maxbutton-check-out-the-latest-headlines-bigger\" href=\"https:\/\/dailyhodl.com\/news\/\"><span class=\"mb-text\">Check Latest News Headlines<\/span><\/a><\/p>\n<p>&amp;nbsp<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"\" src=\"https:\/\/dailyhodl.com\/wp-content\/uploads\/2018\/06\/Get-Alerts-728x90.png\" width=\"800\" height=\"99\" \/><\/p>\n<h6>Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n<p><span style=\"font-size: 10pt\"><em>Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>A widely followed crypto analyst is predicting a parabolic rally for Bitcoin (BTC) as its structure is displaying bullish signs. In a new strategy session, pseudonymous crypto trader Bluntz says that the slight pullback the king crypto experienced overnight is likely going to serve as its low as its price continues to surge. \u201cI would [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":187556,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-187555","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/187555","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=187555"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/187555\/revisions"}],"predecessor-version":[{"id":187558,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/187555\/revisions\/187558"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/187556"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=187555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=187555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=187555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}